W&T Offshore, Inc. Forecasted to Earn Q3 2024 Earnings of ($0.16) Per Share (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Zacks Research cut their Q3 2024 earnings per share estimates for W&T Offshore in a report issued on Monday, October 14th. Zacks Research analyst N. Banerjee now expects that the oil and gas company will post earnings of ($0.16) per share for the quarter, down from their prior forecast of ($0.11). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.39) per share. Zacks Research also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.41) EPS, Q2 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.11) EPS, FY2025 earnings at ($0.35) EPS, Q1 2026 earnings at ($0.02) EPS and Q3 2026 earnings at ($0.01) EPS.

Separately, StockNews.com downgraded W&T Offshore from a “hold” rating to a “sell” rating in a report on Thursday, September 19th.

W&T Offshore Trading Up 2.5 %

Shares of NYSE:WTI opened at $2.04 on Wednesday. The company has a market capitalization of $299.59 million, a P/E ratio of -12.00 and a beta of 1.39. W&T Offshore has a 1 year low of $1.92 and a 1 year high of $4.32. The company has a debt-to-equity ratio of 75.32, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50 day simple moving average is $2.21 and its 200 day simple moving average is $2.28.

W&T Offshore (NYSE:WTI) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 103.71%. The business had revenue of $142.70 million during the quarter, compared to the consensus estimate of $148.05 million. During the same quarter in the prior year, the company earned ($0.08) EPS. W&T Offshore’s quarterly revenue was up 13.1% on a year-over-year basis.

W&T Offshore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Tuesday, August 20th. W&T Offshore’s payout ratio is -23.53%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sanders Morris Harris LLC acquired a new stake in shares of W&T Offshore in the 1st quarter valued at about $26,000. CCG Wealth Management LLC bought a new position in shares of W&T Offshore during the 2nd quarter worth approximately $26,000. Norden Group LLC bought a new stake in shares of W&T Offshore in the 1st quarter worth approximately $29,000. Verum Partners LLC bought a new stake in shares of W&T Offshore in the 3rd quarter worth approximately $32,000. Finally, Caprock Group LLC bought a new stake in shares of W&T Offshore in the 2nd quarter worth approximately $34,000. 42.88% of the stock is owned by institutional investors.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.